Accounting Quiz 07

Auditing is what?

Examination of financial statements

Preparation financial statements

Reporting the financial information

Maintaining the ledger records

Correct! Wrong!

Identify the correct sequence of accounting process

Identifying→communicating→recording

Identifying→recording→communicating

Communicating→Recording→Identifying

Recording→Communicating→Identifying

Correct! Wrong!

_________ is the first phase of accounting cycle?

Preparing journals

Identifying an economic event or transaction

Making decisions about business

Posting entries to ledger accounts

Correct! Wrong!

In accounting an Economic event is referred to as:

Cash

Exchange of money

Transaction

Bank statement

Correct! Wrong!

Which of the following is the internal user of financial statements?

Government agency

Creditor of the business

Manager of the business

Shareholder of the business

Correct! Wrong!

Keeping the log of financial information in books of original entries is called__________?

Grouping

Processing

Recording

Summarizing

Correct! Wrong!

Bookkeeping mainly concerns with which part of accounting process?

Preparing financial statements

Analyzing

Auditing the books of accounts

Recording financial information

Correct! Wrong!

Which of the following is the external user of financial statements?

Manager of the business

CEO of the business

Controller of the business

Creditor of the business

Correct! Wrong!

For which step of accounting process the accountants of business entity prepare financial statements?

Communication of financial information

Identification of economic event

Making decisions about business

Recording financial information

Correct! Wrong!

Financial accounting provides financial information to all of the following external users except:

investors

Managers

Creditors

Government agencies

Correct! Wrong!

Accounting Quiz 07

Well Done !

Your parents would be so proud of you :'D

You Could Do Better !!!

Give it another try 😉

Oh Shoot ! Try Again Maybe ?

Try again bachaa :3

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Accounting Quiz 07

Auditing is what?

Identify the correct sequence of accounting process

_________ is the first phase of accounting cycle?

In accounting an Economic event is referred to as:

Which of the following is the internal user of financial statements?

Keeping the log of financial information in books of original entries is called__________?

Bookkeeping mainly concerns with which part of accounting process?

Which of the following is the external user of financial statements?

For which step of accounting process the accountants of business entity prepare financial statements?

Financial accounting provides financial information to all of the following external users except:

About the author

Muhammad Arslan

Auditing is what?

Identify the correct sequence of accounting process

_________ is the first phase of accounting cycle?

In accounting an Economic event is referred to as:

Which of the following is the internal user of financial statements?

Keeping the log of financial information in books of original entries is called__________?

Bookkeeping mainly concerns with which part of accounting process?

Which of the following is the external user of financial statements?

For which step of accounting process the accountants of business entity prepare financial statements?

Financial accounting provides financial information to all of the following external users except:

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About the author

Muhammad Arslan